UAE: Sukoon offers to buy remaining 6.95% of shares in Ascana

Published on March 1, 2024
Sukoon Insurance Company has announced that it has obtained the necessary approvals from the regulatory authorities to submit an offer to the remaining shareholders of Arabian Scandinavian Insurance
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RLI Corp. promotes Porter to VP, RLI Executive Products Group

March 1, 2024
RLI Corp., the specialty insurer, has promoted Kerrick Porter to the role of Vice President, RLI Executive Products Group, effective May 17, 2024.Porter will take over the role from Chad Berberich, who will be retiring on May 17  2024 after 21 years of service to RLI.According to the firm, in his new role, Porter will assume executive leadership and oversight responsibility of the group, which off

Increase in downgrades reveal challenges for US P&C re/insurers: Gallagher Re

March 1, 2024
As per Gallagher Re’s analysis of rating actions by AM Best, the number of downgrades of US P&C re/insurers jumped significantly in the eight months to the end of August 2023 compared with the calendar year 2022.Negative rating actions reportedly outnumbered positive actions in the period, with Gallagher Re noting that AM Best “placed more scrutiny on performance metrics” due to an increase in cos